Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
TP Adjustment - The Appellate Tribunal considered the amendment made to the section, which specified domestic transactions exceeding a certain threshold. The Tribunal noted that the transactions in question were not international transactions and did not fall under the ambit of Section 92BA. Consequently, it deemed the upward adjustments made by the Assessing Officer invalid. - Delving into the effect of the omission of Section 92BA from the statute, the Tribunal cited legal principles indicating that when a provision is repealed, it should be considered as if it never existed. Therefore, the Tribunal reasoned that the decision made by the Assessing Officer based on Section 92BA was without jurisdiction and liable to be quashed.
TP Adjustment - The Appellate Tribunal considered the amendment made to the section, which specified domestic transactions exceeding a certain threshold. The Tribunal noted that the transactions in question were not international transactions and did not fall under the ambit of Section 92BA. Consequently, it deemed the upward adjustments made by the Assessing Officer invalid. - Delving into the effect of the omission of Section 92BA from the statute, the Tribunal cited legal principles indicating that when a provision is repealed, it should be considered as if it never existed. Therefore, the Tribunal reasoned that the decision made by the Assessing Officer based on Section 92BA was without jurisdiction and liable to be quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
